October 20, 2016

National Building Society (NBS) partnered with Lafarge Cement Zimbabwe which launched its Employee Home Ownership Scheme on October 20, 2016.

Eighty-five Lafarge Cement employees will benefit from the first phase in Adelaide Park Housing Development in Epworth Harare, where housing units are being built on mortgage.

National Building Society (NBS) is providing the finance under a groundbreaking collaboration that also includes, Project Developer: Shelter Zimbabwe, Contractor: RMDJ and underwriter Marsh.

The partnership will enable the delivery of affordable housing and should act as a catalyst for other developments across the country.

NBS said the collaborative approach ensures the participation of more players across the housing industry value chain, ultimately resulting in a cost that is within the reach of the target market.

“There have been a number of housing developments meant to target the low income bracket, but which in reality are priced out of their reach. One of the reasons has been the lack of affordable finance, which we now guarantee. We believe that partnering with like minded stakeholders, as we have done at Adelaide, will lower the cost of housing,” NBS said.

The Building Society has a deliberate mandate to cater for the low-income market and offers single digit interest rates and tenure of up to 25 years.

The unique partnership will result in a number of benefits including access to - title deeds before construction, a developed affordable housing model, affordable land & building material and affordable finance at a zero percent deposit.

Pictures of the event are found here